NYT GM: Advertisers not factoring recession into plans

DavidB. Wilkerson

CHICAGO (MarketWatch) -- Scott Heekin-Canedy, general manager of The New York Times, told analysts Thursday that he doesn't believe advertisers have factored a recession into their spending plans, but cautioned that this could change as the media environment is "extremely volatile." The New York Times Co.
NYT, -0.83%
reported steep ad revenue declines in December, with little indication that the situation would improve. The flagship newspaper's advertisers hesitated to buy placements during the first couple of weeks of the new year, as they "were taking measure of the economic climate and finalizing their spending plans" for 2008. While Heekin-Canedy said it is difficult to look further into the year to predict trends, he said ad sales in the luxury segment would be up by a mid-to-single-digit percentage, and "entertainment should do modestly well this year, as well."

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